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18-unit Brick Garden-style Apartment Building 38 Clapp St 18 Unit Apartment Building $5,950,000 ($330,556/Unit) Malden, MA 02148
Investment Highlights
- Stabilized Cash Flow
- Strong Rental Location
- Many recent improvements
Executive Summary
Hunneman is pleased to offer for sale an excellent investment opportunity in Malden, Massachusetts. This exclusive offering presents investors with the opportunity to acquire an attractive 18-unit brick apartment building consisting of twelve (12) two-bedroom units, five (5) one-bedroom units, and one (1) studio apartment. The building is fully occupied and generates positive cash flow with future upside potential. The asset has been well-maintained by a long-term private ownership group who have completed many recent improvements to both the building and apartments.
38 Clapp Street is available with an asking price of $5,950,000.
38 Clapp Street is available with an asking price of $5,950,000.
Property Facts
| Price | $5,950,000 | Building Class | C |
| Price Per Unit | $330,556 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 16,512 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.78/1,000 SF |
| Zoning | RESA - Apartment | ||
| Price | $5,950,000 |
| Price Per Unit | $330,556 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 16,512 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.78/1,000 SF |
| Zoning | RESA - Apartment |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
| 2+1 | 12 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | MALD-000172-000512-000224 | Improvements Assessment | $2,468,700 |
| Land Assessment | $1,854,000 | Total Assessment | $4,322,700 |
Property Taxes
Parcel Number
MALD-000172-000512-000224
Land Assessment
$1,854,000
Improvements Assessment
$2,468,700
Total Assessment
$4,322,700
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